BlackRock Moves $280M in Bitcoin and Ethereum as Jobless Claims Loom
- BlackRock deposited 2,164 BTC, valued at $195.12 million, and 26,704 ETH, worth $83.28 million, into Coinbase.
- The deposits are seen as a potential precursor to offloading these assets amid recent ETF outflows.
- Ethereum ETFs experienced daily net outflows of $98.45 million on January 7, including $6.64 million from BlackRock’s fund.
- Bitcoin ETFs have recorded two consecutive days of outflows after significant inflows of nearly $700 million on January 5.
- The U.S. initial jobless claims report is expected to show an increase to 210,000 claims from last week’s 199,000.
The upcoming U.S. jobless claims data could influence market conditions and the Federal Reserve’s rate decisions, especially following recent labor market indicators showing weakness.
With BlackRock’s transfer of over $280 million in cryptocurrency assets and the anticipated rise in jobless claims, market volatility may increase significantly today.
